§ 13. Mr. Dyeasked the Minister of Agriculture, Fisheries and Food why the subsidies offered for Grade I fat steers and heifers for the week commencing 10th November were 3s. per live cwt., nothing for the week commencing 17th November, and 6s. per live cwt. for the week commencing 24th November.
§ Mr. GodberThese are the rates of deficiency payment yielded by the prescribed method of calculation, which was agreed with representatives of producers. They reflect the difference between the average of the latest four weeks actual market prices and of the estimated market prices for the following four weeks and the average for the same period of the seasonal standard prices guaranteed to producers.
§ Mr. DyeDoes the hon. Gentleman mean to say that between the weeks commencing 17th October and 24th October there was an average difference of 6s. per live cwt. for fatstock entering markets or slaughterhouses? Does not this state of affairs mean that a farmer who sends his cattle one week gets a bigger subsidy although there is not a comparable variation in the market price?
§ Mr. GodberThe figures accurately reflect the operation of the formula which we use, but I must point out that this occurred at a time when seasonal standard prices at the latter part of the period the hon. Gentleman mentioned were rising sharply, thus accentuating the difference.